Core Viewpoint - French retailer Casino is entering a new round of debt restructuring discussions to support its "Renouveau years 2030" recovery plan, aiming to improve its financial position and operational efficiency [1][3]. Debt Restructuring - Casino is negotiating with lenders regarding over €1.4bn ($1.61bn) of Term Loan B facilities maturing in March 2027, proposing to cut the nominal value from €1.4bn to €800m and reduce the interest rate from 9% to 6% [1][2]. - The proposed restructuring includes extending the maturity of all group financing by five years and implementing a payment-in-kind (PIK) interest structure for the first two years [2]. Financial Goals - The restructuring aims to lower net leverage to below 1.7x by 2029 and address identified liquidity requirements of €500m through equity raises and reduced interest costs [3]. - Casino has set ambitious targets under the Renouveau 2030 plan, including €15.8bn in gross merchandise volume (GMV) by 2030 and adjusted EBITDA of €644m after lease payments [5]. Operational Strategy - The company plans a full refurbishment of the Monoprix chain by 2030 and aims to expand the Franprix Oxygène format to 800 outlets [6]. - Additional plans include the development of Naturalia's La Ferme concept and the introduction of new Spar and Casino formats in 300 shops, along with over 210 new Casino, Vival, and Spar stores by 2030 [6].